Blockchain technology is one of the most exciting parts which is entirely decentralized, its rather than stored and always controlled from one central point. This eliminates is the need for central authorities amd gives the control to any individual users. Here is an explanation of its that how this system works properly,what is it for our future and why it is so needed.
And the other hand decentralized nature of blockchain means it does not depends on a central point of control.A system without a single authority can grow the system fairer and considerably more secure. Rather than depending on a central authority to securely transactions with other users, its uses also consensus protocols across a network of nodes, verify the transactions and Stored data.As a blockchain is a digital ledger of information,honest and the key factor of this digital ledger also gives accurate information.
¤ Comparison of centralization & decentralization ----------
¤ DCENTRALIZATION is the concentration of management and makes decision power at the top of and organization's hierarchy. In which DECENTRALIZATION is the the process by which the activities of an organization,particularly those regarding planning & decision making, are delegatw away from a central and also authoritai location or group.
And the other hand in a centralized system, decision makers are slow but where in a decentralized system,it is comparatively.
¤ In a centralized system, decision making is too slow where in a decentralized system, it is comparatively more faster.
¤ In a centralized system, one or two people has the control and authority but where in a decentralized system multiple persons also have the power of decision making.
¤ Decentralized systems has more security compared with centralized system.
¤ Decentralisation relieves the top executives of the burden of performing various kind of functions but in centralized systems, executives can a lot to do.
¤ Centralized systems has proper coordination and leaderships but where in a decentralized systems, sharing burdens and responsibilities are more essential.
¤ In decentralized systems, as the system does not rely on a central authority, the fees that are normally collected by these organisations are no longer a factor. Therefore the fees is lower than the centrilazed systems.
¤ In centralized systems, you can control the system with two way such as in a good way or bad way. It depens on the executives. However, in decentralized ones, companies have less control.
¤ Decentralized systems are borderless, so sending money to somebody in your home town, or to someone on the other side of the world does not matter. But where in centralized systems, there are some borders.
¤ In the decentralized systems, No third party can access your personal information. However, in centralized systems, it is really easy to access your information.
I hope this article gives you a sufficient view for decentralization and centralization. So we need more decentralized environment in the future. The world is envolving in that way too. Both centralization and decentralization system have some advantages and disadvantages but believe that decentralized systems can improve itself too. Please feel free to let me know your thoughts in the comments section below!
So friends that's it for today and definitely suggest how you felt about my efforts of Centralized & Decentralized system. So see you in the next #post till then everyone will be good and take care of#yourself. #Thank you!!!
